Finding Text
During our review of the report preparation procedures, we noted that 11 of the 18 reports required were not submitted to AAFAF. Also, during our report control and compliance test work we also noted the following.
1. One out of four reports selected for testing was not provided and procedures could not be performed; 2. In one out of four reports selected for testing did not include all the transactions reported in the general ledger at
the time the report was submitted.;3. Three of the four reports selected were not submitted on time.